June 21, 2011
Libyan Rebel Group Sells First Oil to US
Tesoro, a U.S. oil refiner, entered into a deal May 25 with the Transitional National Council based in Benghazi, Libya for 1.2 million barrels of Libyan crude oil, the State Department said in a written statement. The shipment was scheduled to arrive aboard the MT Equator, a Liberian-flagged tanker, at the Single Point Mooring in Hawaii on Wednesday. The dollar value of the deal is not known.
U.S. support for additional oil sales with the TNC will continue as a means to support additional revenue streams for the Libyan people, the statement said.
The sale was made possible following an April announcement by the Office of Foreign Assets Control at the Treasury Department that established a new licensing policy with Libya. That action was taken to ease barriers to certain oil related transactions with the TNC, in place because of wider U.S. sanctions on Libya.
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